{"id":"https://openalex.org/W1925469991","doi":"https://doi.org/10.1111/j.1468-036x.2010.00546.x","title":"Long\u2010term Performance of Greek IPOs","display_name":"Long\u2010term Performance of Greek IPOs","publication_year":2010,"publication_date":"2010-06-07","ids":{"openalex":"https://openalex.org/W1925469991","doi":"https://doi.org/10.1111/j.1468-036x.2010.00546.x","mag":"1925469991"},"language":"en","primary_location":{"id":"doi:10.1111/j.1468-036x.2010.00546.x","doi":"https://doi.org/10.1111/j.1468-036x.2010.00546.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1468-036x.2010.00546.x","pdf_url":null,"source":{"id":"https://openalex.org/S131852005","display_name":"European Financial Management","issn_l":"1354-7798","issn":["1354-7798","1468-036X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-2","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"European Financial Management","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://purehost.bath.ac.uk/ws/files/159927587/EFM2012.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5110215048","display_name":"Stavros B. Thomadakis","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I200777214","display_name":"National and Kapodistrian University of Athens","ror":"https://ror.org/04gnjpq42","country_code":"GR","type":"education","lineage":["https://openalex.org/I200777214"]}],"countries":["GR"],"is_corresponding":true,"raw_author_name":"Stavros Thomadakis","raw_affiliation_strings":["Department of Economics, University of Athens, Athens, 10562, GreeceE-mail: [email protected]","Department of Economics, University of Athens, Athens, 10562, GreeceE\u2010mail: thomadakis@econ.uoa.gr"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, University of Athens, Athens, 10562, GreeceE-mail: [email protected]","institution_ids":["https://openalex.org/I200777214"]},{"raw_affiliation_string":"Department of Economics, University of Athens, Athens, 10562, GreeceE\u2010mail: thomadakis@econ.uoa.gr","institution_ids":["https://openalex.org/I200777214"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5082257407","display_name":"Christos Panagiotis Nounis","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I200777214","display_name":"National and Kapodistrian University of Athens","ror":"https://ror.org/04gnjpq42","country_code":"GR","type":"education","lineage":["https://openalex.org/I200777214"]}],"countries":["GR"],"is_corresponding":true,"raw_author_name":"Christos Nounis","raw_affiliation_strings":["Department of Economics, University of Athens, Athens, 10562, GreeceE-mail: [email protected]","Department of Economics, University of Athens, Athens, 10562, Greece E-mail: cnounis@econ.uoa.gr"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, University of Athens, Athens, 10562, GreeceE-mail: [email protected]","institution_ids":["https://openalex.org/I200777214"]},{"raw_affiliation_string":"Department of Economics, University of Athens, Athens, 10562, Greece E-mail: cnounis@econ.uoa.gr","institution_ids":["https://openalex.org/I200777214"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5035230148","display_name":"Dimitrios Gounopoulos","orcid":"https://orcid.org/0000-0002-1443-1659","observed_orcids":["https://orcid.org/0000-0002-1443-1659","https://orcid.org/0000-0002-0430-3450"]},"institutions":[{"id":"https://openalex.org/I28290843","display_name":"University of Surrey","ror":"https://ror.org/00ks66431","country_code":"GB","type":"education","lineage":["https://openalex.org/I28290843"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Dimitrios Gounopoulos","raw_affiliation_strings":["School of Management, University of Surrey, Guildford, Surrey, GU2 7XH, UKE-mail: [email protected]","School of Management, University of Surrey, Guildford, Surrey, GU2 7XH, UKE\u2010mail: d.gounopoulos@surrey.ac.uk"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Management, University of Surrey, Guildford, Surrey, GU2 7XH, UKE-mail: [email protected]","institution_ids":["https://openalex.org/I28290843"]},{"raw_affiliation_string":"School of Management, University of Surrey, Guildford, Surrey, GU2 7XH, UKE\u2010mail: d.gounopoulos@surrey.ac.uk","institution_ids":["https://openalex.org/I28290843"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5035230148","https://openalex.org/A5082257407","https://openalex.org/A5110215048"],"corresponding_institution_ids":["https://openalex.org/I200777214","https://openalex.org/I28290843"],"apc_list":{"value":3350,"currency":"USD","value_usd":3350},"apc_paid":null,"fwci":2.7859,"has_fulltext":true,"cited_by_count":64,"citation_normalized_percentile":{"value":0.91519678,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"18","issue":"1","first_page":"117","last_page":"141"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9570000171661377,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9570000171661377,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.03610000014305115,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.0024999999441206455,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/initial-public-offerings","display_name":"initial public offerings","score":0.9879999756813049},{"id":"https://openalex.org/keywords/ipo-underperformance","display_name":"IPO underperformance","score":0.6460000276565552},{"id":"https://openalex.org/keywords/long-run-stock-returns","display_name":"long-run stock returns","score":0.6520000100135803},{"id":"https://openalex.org/keywords/abnormal-returns","display_name":"abnormal returns","score":0.699999988079071},{"id":"https://openalex.org/keywords/ipo-waves","display_name":"IPO waves","score":0.5490000247955322},{"id":"https://openalex.org/keywords/ipo-pricing","display_name":"IPO pricing","score":0.5830000042915344}],"concepts":[{"id":"https://openalex.org/C12559387","wikidata":"https://www.wikidata.org/wiki/Q185142","display_name":"Initial public offering","level":2,"score":0.9509149789810181},{"id":"https://openalex.org/C2779820595","wikidata":"https://www.wikidata.org/wiki/Q798505","display_name":"Listing (finance)","level":2,"score":0.550445020198822},{"id":"https://openalex.org/C61797465","wikidata":"https://www.wikidata.org/wiki/Q1188986","display_name":"Term (time)","level":2,"score":0.5457124710083008},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5124826431274414},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.44205495715141296},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.43881362676620483},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4205705523490906},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3668978214263916},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.3270013928413391},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.23972129821777344},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1111/j.1468-036x.2010.00546.x","doi":"https://doi.org/10.1111/j.1468-036x.2010.00546.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1468-036x.2010.00546.x","pdf_url":null,"source":{"id":"https://openalex.org/S131852005","display_name":"European Financial Management","issn_l":"1354-7798","issn":["1354-7798","1468-036X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-2","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"European Financial Management","raw_type":"journal-article"},{"id":"pmh:oai:epubs.surrey.ac.uk:154533","doi":null,"is_oa":false,"landing_page_url":"http://epubs.surrey.ac.uk/154533/1/Long%20term%20performance%20of%20Greek%20IPOs.pdf","pdf_url":"http://epubs.surrey.ac.uk/154533/1/Long%20term%20performance%20of%20Greek%20IPOs.pdf","source":{"id":"https://openalex.org/S4306400680","display_name":"Surrey Research Insight Open Access (The University of Surrey)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I28290843","host_organization_name":"University of Surrey","host_organization_lineage":["https://openalex.org/I28290843"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Article"},{"id":"pmh:oai:purehost.bath.ac.uk:openaire/b7ed393d-8303-4e6e-925d-df42b0df082d","doi":null,"is_oa":true,"landing_page_url":"https://researchportal.bath.ac.uk/en/publications/b7ed393d-8303-4e6e-925d-df42b0df082d","pdf_url":"https://purehost.bath.ac.uk/ws/files/159927587/EFM2012.pdf","source":{"id":"https://openalex.org/S4377196294","display_name":"Pure (University of Bath)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I51601045","host_organization_name":"University of Bath","host_organization_lineage":["https://openalex.org/I51601045"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Thomadakis, S, Nounis, C & Gounopoulos, D 2011, 'Long term performance of Greek IPOs', European Financial Management, vol. 18, no. 1, pp. 117-141. https://doi.org/10.1111/j.1468-036X.2010.00546.x","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:figshare.com:article/23396114","doi":null,"is_oa":true,"landing_page_url":"https://figshare.com/articles/journal_contribution/Long-term_performance_of_Greek_IPOs/23396114","pdf_url":null,"source":{"id":"https://openalex.org/S4377196282","display_name":"Figshare","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4210132348","host_organization_name":"Figshare (United Kingdom)","host_organization_lineage":["https://openalex.org/I4210132348"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Text"}],"best_oa_location":{"id":"pmh:oai:purehost.bath.ac.uk:openaire/b7ed393d-8303-4e6e-925d-df42b0df082d","doi":null,"is_oa":true,"landing_page_url":"https://researchportal.bath.ac.uk/en/publications/b7ed393d-8303-4e6e-925d-df42b0df082d","pdf_url":"https://purehost.bath.ac.uk/ws/files/159927587/EFM2012.pdf","source":{"id":"https://openalex.org/S4377196294","display_name":"Pure (University of Bath)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I51601045","host_organization_name":"University of Bath","host_organization_lineage":["https://openalex.org/I51601045"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Thomadakis, S, Nounis, C & Gounopoulos, D 2011, 'Long term performance of Greek IPOs', European Financial Management, vol. 18, no. 1, pp. 117-141. https://doi.org/10.1111/j.1468-036X.2010.00546.x","raw_type":"info:eu-repo/semantics/article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"display_name":"Partnerships for the goals","id":"https://metadata.un.org/sdg/17","score":0.4000000059604645}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W1925469991.pdf","grobid_xml":"https://content.openalex.org/works/W1925469991.grobid-xml"},"referenced_works_count":86,"referenced_works":["https://openalex.org/W153242784","https://openalex.org/W155397348","https://openalex.org/W254279928","https://openalex.org/W1516117030","https://openalex.org/W1522047202","https://openalex.org/W1527469877","https://openalex.org/W1539340511","https://openalex.org/W1590844819","https://openalex.org/W1793104650","https://openalex.org/W1847833993","https://openalex.org/W1974674167","https://openalex.org/W1985098570","https://openalex.org/W1988342848","https://openalex.org/W1995834279","https://openalex.org/W2007143323","https://openalex.org/W2008468279","https://openalex.org/W2011897245","https://openalex.org/W2016614592","https://openalex.org/W2022932300","https://openalex.org/W2028147990","https://openalex.org/W2041486153","https://openalex.org/W2041946752","https://openalex.org/W2049075743","https://openalex.org/W2052536272","https://openalex.org/W2057206151","https://openalex.org/W2057633205","https://openalex.org/W2067886933","https://openalex.org/W2071793406","https://openalex.org/W2072627020","https://openalex.org/W2073488258","https://openalex.org/W2079780224","https://openalex.org/W2084440177","https://openalex.org/W2096087337","https://openalex.org/W2096381076","https://openalex.org/W2098311533","https://openalex.org/W2104796460","https://openalex.org/W2106791182","https://openalex.org/W2109828486","https://openalex.org/W2111255674","https://openalex.org/W2113305199","https://openalex.org/W2119621677","https://openalex.org/W2120853135","https://openalex.org/W2121606993","https://openalex.org/W2132444912","https://openalex.org/W2133075930","https://openalex.org/W2135112229","https://openalex.org/W2136120210","https://openalex.org/W2136362291","https://openalex.org/W2147225826","https://openalex.org/W2148198877","https://openalex.org/W2148402268","https://openalex.org/W2149238681","https://openalex.org/W2154585860","https://openalex.org/W2155657697","https://openalex.org/W2158696345","https://openalex.org/W2162369983","https://openalex.org/W2166448328","https://openalex.org/W2500365114","https://openalex.org/W2571492710","https://openalex.org/W2595875373","https://openalex.org/W2743275236","https://openalex.org/W2771341960","https://openalex.org/W2989631226","https://openalex.org/W3022201415","https://openalex.org/W3121518808","https://openalex.org/W3121525569","https://openalex.org/W3121662038","https://openalex.org/W3122367063","https://openalex.org/W3122684442","https://openalex.org/W3122685144","https://openalex.org/W3122743887","https://openalex.org/W3123041893","https://openalex.org/W3123689466","https://openalex.org/W3123753686","https://openalex.org/W3124524321","https://openalex.org/W3125631031","https://openalex.org/W3125657840","https://openalex.org/W3125770412","https://openalex.org/W3125882957","https://openalex.org/W3126019493","https://openalex.org/W3126029451","https://openalex.org/W3139775142","https://openalex.org/W4238955625","https://openalex.org/W4285719527","https://openalex.org/W4300450573","https://openalex.org/W7055503330"],"related_works":["https://openalex.org/W7221169711","https://openalex.org/W42658394","https://openalex.org/W2993793265","https://openalex.org/W7038283570","https://openalex.org/W1537463970","https://openalex.org/W4285152137","https://openalex.org/W2571492710","https://openalex.org/W2014299544","https://openalex.org/W131818168","https://openalex.org/W7096372995"],"abstract_inverted_index":{"Abstract":[0],"We":[1,69],"analyse":[2],"the":[3,14,66,79,106,125,141,150],"long\u2010run":[4,92],"performance":[5,93],"of":[6,30,65,78,81,91,127,138],"254":[7],"Greek":[8,103],"IPOs":[9,82,104],"that":[10,45,72,101,124],"were":[11],"listed":[12],"during":[13,84,140,149],"period":[15],"1994\u20132002,":[16],"computing":[17],"buy\u2010and\u2010hold":[18],"abnormal":[19,24],"returns":[20,25,55],"(BHAR)":[21],"and":[22,41,160],"cumulative":[23],"(CAR)":[26],"over":[27,129],"36":[28],"months":[29],"secondary":[31],"market":[32,107],"performance.":[33,164],"The":[34,98],"empirical":[35],"results":[36],"differ":[37],"from":[38],"international":[39,119],"evidence":[40],"reveal":[42],"long\u2010term":[43,73,162],"overperformance":[44,74,128],"continues":[46],"for":[47,108],"a":[48,76,85,109,130],"substantial":[49],"interval":[50,132],"after":[51],"listing.":[52],"Measuring":[53],"these":[54],"in":[56,115],"calendar":[57],"time,":[58],"we":[59],"find":[60,71],"statistical":[61],"significance":[62],"with":[63,117,147],"several":[64,95],"benchmarks":[67],"employed.":[68],"also":[70],"is":[75,123,133],"feature":[77],"mass":[80],"conducted":[83],"pronounced":[86],"IPO":[87,143,152],"wave.":[88],"Cross\u2010sectional":[89],"regressions":[90],"disclose":[94],"significant":[96,131],"factors.":[97],"study":[99],"demonstrates":[100],"although":[102],"overperform":[105],"longer":[110],"period,":[111],"underperformance":[112],"eventually":[113],"emerges,":[114],"line":[116],"much":[118],"evidence.":[120],"Our":[121],"interpretation":[122],"persistence":[126],"due":[134],"to":[135],"excessive":[136],"supply":[137],"issues":[139],"\u2018hot":[142,151],"period\u2019.":[144],"Results":[145],"associated":[146],"pricing":[148],"period\u2019":[153],"indicate":[154],"positive":[155],"short\u2010":[156],"(1\u2010year),":[157],"medium\u2010":[158],"(2\u2010year)":[159],"negative":[161],"(3\u2010year)":[163]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":6},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":7},{"year":2017,"cited_by_count":8},{"year":2016,"cited_by_count":5},{"year":2015,"cited_by_count":7},{"year":2014,"cited_by_count":7},{"year":2013,"cited_by_count":4}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2016-06-24T00:00:00"}
